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View Diary: From Floods to Drought and Back: Global Weirding (78 comments)

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  •  I don't think that's right (0+ / 0-)

    I think you'd still get the credit because it's a credit, not a deduction

    Touch all that arises with a spirit of compassion

    by Mindful Nature on Thu Apr 25, 2013 at 09:14:31 PM PDT

    [ Parent ]

    •  It depends on whether it's a "refundable" or (0+ / 0-)
      I think you'd still get the credit because it's a credit, not a deduction    
      "non-refundable" credit.  Refundable credits are good for everyone no matter how low the income is.  Non-refundable credits are worthless for low-income people.  

      Renewable energy brings national global security.     

      by Calamity Jean on Thu Apr 25, 2013 at 11:13:10 PM PDT

      [ Parent ]

      •  Need taxes to deduct credit from... (0+ / 0-)

        At $20k a year income, I'm only paying about $1000 a year in taxes, so that $1000 is the maximum credit I could get for buying an electric car. And at $20k a year income, there's no way I can afford a $30k or more electric car with or without a subsidy.

        •  No, that's what I was trying to explain. (0+ / 0-)
          At $20k a year income, I'm only paying about $1000 a year in taxes, so that $1000 is the maximum credit I could get for buying an electric car.
           If it is a "refundable" credit, for say $3000, you'd get the whole $3000 as a refund, even if your income tax liability without the credit was only $1000.  If it's a "non-refundable" credit, yeah, you'd only get $1000.  I don't know whether the electric car credit is refundable or non-refundable.
          And at $20k a year income, there's no way I can afford a $30k or more electric car with or without a subsidy.  
          True, sadly.  You will just have to wait until the price comes down.  

          Renewable energy brings national global security.     

          by Calamity Jean on Fri Apr 26, 2013 at 07:57:08 AM PDT

          [ Parent ]

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